Bitcoin

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/bitcoin-prices-surge-then-plummet" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Prices Surge Then Plummet</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/bitcoins-path-to-80000-expert-predictions-amid-etf-speculations" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a>‘s price movement maintained a steady course after a calm weekend, but experienced dramatic fluctuations on August 12. During early Asian and part of European trading sessions, Bitcoin traded between $58,130 and $59,000. Within a span of fewer than two hours, the price surged from $58,140 to $60,000, only to retract swiftly before the New York session began.</p>
<h2 id="analyst-insights">Analyst Insights</h2>
<p style="text-align: justify">Currently, Bitcoin is trading 2% below its daily high of $60,244, continuing its volatile pattern. Popular analyst Jelle noted that while short-term charts suggest turbulence, the weekly chart indicates ongoing consolidation within a 165-day cycle. Fellow analyst Crypto Rover highlighted that the sudden price action on August 12 was a roller coaster for <a href="https://finance.coin-turk.com/" rel="noopener noreferrer nofollow" target="_blank" data-wpel-link="exclude">investors</a>.</p>
<h2 id="futures-market-dynamics">Futures Market Dynamics</h2>
<p style="text-align: justify">A significant shift in the Bitcoin futures market seems to have triggered the recent price volatility. Short liquidations coincided with a price surge, with Coinglass data revealing over $20.16 million in Bitcoin short positions were liquidated in the past 12 hours. Overall liquidations in the crypto market totaled $112.20 million, with $61.84 million attributed to short liquidations.</p>
<h2 id="key-takeaways">Key Takeaways</h2>
<p style="text-align: justify">According to CryptoQuant, Bitcoin transfers to exchanges increased from 9,132 on August 11 to 21,278 on August 12. This uptick suggests heightened selling pressure as investors capitalize on current prices, contributing to the asset’s price volatility.</p>
<ul>
 <li>Monitor Bitcoin inflows to exchanges for market sentiment.</li>
 <li>Short liquidations can signal upcoming price movements.</li>
 <li>Consolidation cycles on longer time frames may predict <a href="https://newslinker.co/what-are-the-future-technologies/" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="exclude">future</a> stability.</li>
</ul>
<h2 id="conclusion">Conclusion</h2>
<p style="text-align: justify">The recent sharp movements in Bitcoin’s price underline the cryptocurrency’s inherent volatility. Understanding the underlying factors, such as futures market dynamics and investor behavior, can offer valuable insights for navigating these turbulent waters.</p>
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on BH NEWS: </span> <a href="https://en.bitcoinhaber.net/bitcoin-prices-surge-then-plummet" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin Prices Surge Then Plummet</a></h5>

Bitcoin Prices Surge Then Plummet

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